DOT, LINK Rise to Multi-Week Highs on Monday – Market Updates Bitcoin News

As the price rose for a second consecutive day, Polkadot reached a multiweek high. The token briefly broke out of a key resistance point, during Monday’s surge. Chainlink reached its highest level in almost two weeks. The token is now up nearly 13% in the past seven days.

Polkadot (DOT)

Polkadot was up for the second consecutive session. This is because prices of the token were close to a two week high.

After a Sunday low of $7.21, the DOT/USD soared to $7.61 intraday to begin the week.

This move caused polkadot to briefly surpass its $7.60 resistance level before quickly retreating.

Biggest Movers: DOT, LINK Rise to Multi-Week Highs on Monday
DOT/USD – Daily Chart

This resistance point is a historical point of uncertainty. Bears have recently dominated sentiment in this region, as can be seen on the chart.

DOT has fallen to $7.52 from its previous highs. This is because bulls opted for gains soon after colliding against the resistance.

Bulls are likely to continue to chase a breakout and the higher ceiling of $8.10 as an exit point.

Chainlink (LINK).

Chainlink (LINK), was also higher on Monday. It moved towards its peak in the last week.

The LINK/USD exchange rate surged to $7.25 at the beginning of the week. This is its highest level since August 25.

As with polkadot, Monday’s move led to a breakout, with LINK surging past its ceiling of $7.20.

Biggest Movers: DOT, LINK Rise to Multi-Week Highs on Monday
LINK/USD – Daily Chart

As another resistance level (RSI) was breached, the move occurred.

The index currently tracks at 51.28 as of this writing. This is more than the long-term limit of 50.00.

If this trend continues, we may see LINK bulls try to reclaim the $7.50 mark.

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Is it possible that chainlink could reach $8.00 by September? We’d love to hear your comments.

Eliman Dambell

Eliman has a unique perspective on market analysis, having been a broker director, educator in retail trading, and commentator in Crypto, Stocks, and FX.

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